A good value engineering program should lead to the lowest possible initial project cost. True False
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A good value engineering program should lead to the lowest possible initial project cost.
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- I am still having trouble undertsanding this, can you please explain it bettera) BIM software popularity has increased due to: Choice 1 Extreme ease of use Choice 2 Designer preference Choice 3 Project owners requiring it Choice 4 Low purchase price b) To avoid Insurance Subrogation risk, a party to a contract needs to: Choice 1 Add itself as named-insured Choice 2 Ask for leniency Choice 3 Ask for tail coverage Choice 4 All of the above c) Why are standard contract forms preferred in construction projects? Choice 1 Elimination of lawyer fees Choice 2 Easier to understand Choice 3 Are inexpensive to purchase Choice 4 None of aboveThe use of Design-Build projects has been decreasing. T or F Design-build eliminates the need for an owner to deal with a separate designer and contractor. Tor F Discuss the potential benefits of using design-build on project.
- Cost estimation plays a vital role in the success of any project. Explain the different tools and techniques due to which the process of cost estimation takes place.What is the significance of cost estimates in project cost management?The difference between a Participant and a Stakeholder can best be described as: A Stakeholder is involved for the life of the project and the Participant is involved for a short duration. Stakeholders are involved periodically and Participants are involved continuously There is no difference A Participant is involved for the life of the project and the Stakeholder is involved for a short duration.
- Briefly describe the difference between "Construction Management at Fee and Construction Management at Risk".is a dimensionless number associated with a point in time and/or location that illustrates the cost at that time or location relative to a base point in time or base location. A Cost Estimates B Cost Indexing Cost Analysis D Cost ComparisonDuring a healthcare construction project, which of the following project delivery methods would a project team use where LEAN principles and building information modeling are utilized to the greatest extent possible? A. Integrated project delivery B. Design-bid-build C. Guaranteed maximum price D. Design-build